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6 Important Things You Should Know Before Buying a Car

6 Important Things You Should Know Before Buying a Car

Buying a new vehicle is something that should never be done on a whim. This is an expensive purchase, and you need to put a certain amount of thought into it before you spend a lot of money and end up with a vehicle that isn’t right for you. There are many things to consider before buying a vehicle, so make sure that you take plenty of time before coming to a final decision. Here are six of the most important things to think about before making that purchase.

1. Determine Your Needs

The first thing to consider is the type of vehicle you should buy, based on your particular needs. For instance, if you have children or plan to have children, you will need a vehicle that will accommodate your family. Write down a list of the features you would like, such as a sound system, sunroof, heated seats, etc., and figure out how often and where you will be driving. These are all factors that will determine the type of vehicle that you should be looking for.

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2. Don’t Get Unnecessary Extras

You are going to be offered all kinds of extras as a way to get you to pay more for the vehicle. Don’t fall for this. Only take what you want, and don’t be fooled by fast talking sales people. Extras that you don’t really need include paint protection, fabric protection, rust-proofing, and VIN etching unless of course you can afford them and decide that you do want them. Some of the extras can be great to have, but unless they fit into your budget, don’t be talked into anything that isn’t necessary.

3. Figure Out Your Budget

This is actually one of the first things you need to do, because if you don’t set a budget, you could end up with payments that you can’t really afford. You may really want that expensive sports car, but can you really afford it? When looking at your budget, be sure to think about various ways to finance a vehicle. If you have cash on hand, you can make a large down payment and have lower payments. Ask about vehicle financing, talk to your bank about a car loan, and also look at leasing, which is often a great option for those who like to trade up regularly. Don’t forget to include things like car insurance, vehicle registration, and other expenses.

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4. Buy the Vehicle, Not the Deal

There are a lot of great deals out there that can keep you from getting the vehicle that you really need. You could end up getting something that is completely wrong for your lifestyle, just because you were offered a deal that you felt you shouldn’t refuse. This goes back to the first tip. Consider your exact driving needs, and make sure that the vehicle you choose fits those needs.

5. Research Brands and Dealers

The more you know about brands and dealers, the more ammunition you will have when it comes to negotiations. Dealers don’t want people to do this research because it means that they will be aware of ways to lower prices. Look into car prices, compare prices between models and brands, and get a variety of price quotes before spending any money.

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6. Do an Online Competitive Comparison

You should try to compare at least two or three brands in the same vehicle category in order to find one that is just right for you. There are many brands that offer more value for your money than others do, so it is a good idea to do your research and make lists of the various prices, features, etc. to help you make the best decision.

Featured photo credit: Mason Jones via unsplash.com

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Jane Hurst

Writer, editor

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Last Updated on January 21, 2020

How to Develop a Millionaire Mindset in 6 Simple Steps

How to Develop a Millionaire Mindset in 6 Simple Steps

We all like to dream about being financially wealthy. For most people though, it remains a dream and nothing more. Why is that?

It’s because most people don’t set their mind to achieving that goal. They might not be happy in their current situation but they’re comfortable – and comfort is one of the biggest enemies of growth.

How do you go about developing that millionaire mindset? By following these simple steps:

1. Focus On What You Want – And Take It!

So many people are too timid to admit they want something and go for it. When there is something that you want to accomplish don’t think “I could never actually do that”, think “I could do that and I WILL do that”.

Millionaires play to win, not to avoid defeat.

This doesn’t mean to have to become a selfish jerk. What it means is becoming more assertive and honest with yourself. You don’t have to grab off other people. There is a big pot of unclaimed gold in the middle of the table — why shouldn’t you be the one to claim it? You deserve it!

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2. Become Goal-Orientated

It’s almost impossible to achieve anything if you don’t set firm goals. Only lottery winners become millionaires overnight. By setting yourself attainable goals, you will get there eventually. Don’t try to get rich quickly — get rich slowly.

Let’s take the idea of making your first million dollars and expand on what kind of goals you might set to get there. Let’s also say you’re starting at a break-even position – you’re making enough to get by with a few luxuries, but nothing more.

Your goal for the first year can be having $10,000 in the bank within a year. It won’t be easy but it is doable. Next, you need to figure out the steps you need to take to achieve that goal.

Always look at ways to make growth before cutbacks. With that in mind, you might want to see if you can negotiate a pay rise with your boss, or if there’s another job out there that will pay better. You might be comfortable in your old job but remember, comfort stunts growth.

You may also have other skills outside of your workplace that you can monetize to boost your bank balance. Maybe you can design websites for people, at a fee of course, or make alterations to clothes.

If this is still not enough to make the money you need to save $10,000 in a year, then it’s time to look at cutbacks. Do you have a bunch of old junk that someone else might love? Sell it! Do you really need to spend $10 on your lunch everyday when you could make your own for a fraction of the cost?

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If you are to become a millionaire, you need to start accumulating money.

Here’re some tips to help you: How to Become Goal Oriented and Achieve More in Life

3. Don’t Spend Your Money – Invest It

The reason you need to accumulate money is for step three. Millionaires tend to be frugal people, and that’s because they know the true value of money is in investing. Being your own boss goes hand-in-hand with becoming a millionaire. You’ll want to quit your regular job at some point.

Stop working for your money and make your money work for you.

Rather than buying yourself a new iPad, that $500 could be used to invest in the stock market. Find the right shares (more on that later), and that money could easily double within a year.

There’s not just the stock market — there’s also property, and your own education.

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4. Never Stop Learning

The best thing you can invest in is yourself.

Once most people leave the education system, they think their learning days are over. Well theirs might be, but yours shouldn’t be. Successful people continually learn and adapt.

Billionaire Warren Buffet estimates that he read at least 100 books on investing before he turned twenty. Most people never read another book after they’ve left school. Who would you rather be?

Learn everything you can about how economics works, how the stocks markets work, how they trend.

Learn new skills. If you have an interest in it, learn everything you can about it. You’d be surprised at how often, seemingly useless skills, can become extremely useful in the right situation.

Start developing the habit of learning continuously: How to Create a Habit of Continuous Learning for a Better You

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5. Think Big

While I advise to start off with small goals, you absolutely should have a big goal in mind. If you have a business idea, then that is your ultimate goal – to start that business and make a success of it. If you want to invest your way to millions of dollars and do little work other than research, then that is your big goal.

There is no shame in not achieving a big goal. If you run a business and aim to make $1 million profit in a year and “only” make $200,000, then you’re still significantly ahead of most people.

Aim for the stars, if you fail you’ll still be over the moon.

6. Enjoy the Attention

To be successful, you have to be willing to promote yourself and enjoy the attention to a certain extent. Now the attention doesn’t need to be on yourself, it could be on your brand, but attention definitely attracts money.

Never be embarrassed to get your name out there. That means finding a spotlight and being brave enough to step right up underneath it.

If you run a business, try contacting the local papers. You’d be surprised at how amenable they often are to running a story about you and your business, and it’s all free publicity.

Above all, remember: You control your own destiny. Push hard enough for anything and you’ll get it.

More About Thinking Smart

Featured photo credit: Austin Distel via unsplash.com

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